romney will also be speaking in new york. >> he's getting some criticism for his schedule in meetings. in any case, stick around because still to come, bowing out of investment banking. the future is looking bleak for rbs. >>> meredith whitney says banks have been behind the curve in terms of downsizing and employees are paying for it now. >> if you think about all the other industries that have gotten more competitive, more profitable, the banking sector and insurance sector have been laggards behind it and they employ a lot of people. so they'll see significant layoffs. interesting for goldman, they're cutting all of their highest paid people. so it's not a great time. i think the industry is as bad as i've seen it. >> so how bad is it going to get? joining us for more is bank equity research and european banking editor. welcome to you both. do you agree with meredith whitney, is it as bad as you've seen it and are there a lot more job cuts to come? >> yeah, i think it's pretty bad. i think it all kind of centers around what's going on with the eurozone. but more positively, i would